New Zealand’s Inland Revenue explains how e‑invoicing works, the benefits, and the changes to GST record‑keeping that took effect on 1 April 2023. The guidance notes that e‑invoices are exchanged via the Peppol network and that suppliers are encouraged to send them instead of PDFs.
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Bloomberg Tax · 2 months ago
New Zealand’s Goods and Services Tax (GST) is highlighted as a model consumption tax, featuring a single 15% rate, minimal exemptions, and a broad base that yields a stable revenue stream. The system’s simplicity reduces compliance burdens and has been praised for its efficiency and neutrality. Key innovations include zero‑rating business‑to‑business financial services and excluding most crypto assets from GST.
Avalara · 5 months ago
New Zealand GST invoices must be issued within 27 days of the supply and retained for at least seven years. They must contain specific details such as supplier and customer information, invoice date, description, taxable amount, GST, and gross amount. Invoices below NZD 1,000 may omit customer details and detailed GST calculations, and no tax invoice is required for supplies of NZD 50 or less.
Manila Bulletin · 4 days ago
Manila Bulletin reports that the Philippine BIR has clarified that bilateral tax treaties do not exempt foreign digital service providers from the country's 12% VAT. The new guidance, issued in RMC No. 59‑2026 on June 2, 2026, requires non‑resident providers to register and file VAT returns, and outlines reverse‑charge rules for cross‑border B2B services. It also details how online booking platforms and pre‑existing subscriptions are taxed.
The Manila Times · 5 days ago
The BIR expanded the VAT exemption list for essential medicines in April 2026, increasing the number of exempt chronic‑condition drugs to 2,263 from 2,242 in December 2025. This move aims to reduce out‑of‑pocket healthcare costs and boost demand for locally produced generic medicines. The commentary notes potential benefits for domestic manufacturers but highlights ongoing challenges such as high out‑of‑pocket spending and supply‑chain constraints.
Boardroom Limited · 6 days ago
Boardroom Singapore’s press release outlines common pitfalls in Singapore’s GST filing process and offers a practical checklist to improve accuracy. It stresses the importance of timely filing, proper documentation, and the use of the myTax Portal and IRAS’s Assisted Self‑help Kit to mitigate errors and penalties.
Geo · 7 days ago
The International Monetary Fund has urged Pakistan to increase its standard General Sales Tax (GST) rate from 18% to 19% for the 2026-27 fiscal year, citing a tax shortfall. The IMF also proposes raising the GST on hybrid vehicles from 8.5% to 18% and introduces a fixed‑tax scheme for retailers with turnover up to Rs200 million. While the government has resisted the hike, the IMF estimates the 1% increase could raise Rs250‑300 billion in revenue.
Key Takeaways
The law replaced the requirement to use tax invoices with a requirement to provide and keep taxable supply information records, such as purchase orders, ledgers, bank statements, and supplier agreements.
e‑invoicing information is exchanged through the Peppol network using the software business specifications for e‑invoicing.
Sending e‑invoices helps the processing and payment of invoices to run more securely and smoothly, improving efficiency and reducing manual entry.
Primary source
Read the full article at New Zealand Inland RevenueThis summary was published on VATfaqs.com on 14 January 2026. It relates to VAT developments in New Zealand. The original source is New Zealand Inland Revenue.
